Automobile seek platform CarDekho on Wednesday mentioned it has raised $250 million, propelling the Jaipur-based company into the unicorn membership with a valuation of $1.2 billion.
The corporate added that the most recent investment spherical incorporated $200 million Sequence E fairness and $50 million debt in its pre-IPO spherical. The investment spherical used to be led through LeapFrog Investments. Different new buyers who participated incorporated U.S.-based Canyon Companions, Mirae Asset and Harbor Spring Capital, in addition to CarDekho’s current buyers Sequoia Capital India and Sunley Area.
“It’s the greatest ever fundraise through CarDekho and the proceeds will likely be used to boost up CarDekho’s enlargement within the used automobile transactions, monetary products and services and insurance coverage companies, construct powerful product and generation purposes, build up emblem consciousness, and increase into new markets,” it added.
These days, the corporate buys vehicles from consumers in additional than 100 markets and has a listing of over 3,000 qualified pre-owned vehicles for on-line acquire. It plans to increase its Used Automobile retail transactions industry geographically and build up its catalogue to ten,000 vehicles within the close to long run.